Daily The Business

Despair over jobs as Jet Airways grounded

MUMBAI: Bhoja Poojari has handled baggage for India’s Jet Airways since it began flying nearly 26 years ago. Now, like many other Jet employees, he fears for the future as the debt-laden airline descends into crisis.

“If this continues, I do not know what to do,” said the 53-year-old father of two, who has not been paid in nearly two months and may be forced to sell his house.

“I feel like my hands are tied and I can’t sleep at night,” Poojari told Reuters. “I haven’t told my children anything. They are very young, but they know something is wrong.”

Thousands of employees have been stung by the rapid unravelling of Jet Airways, which, saddled with more than $1.2 billion in bank debt, grounded all its planes on Wednesday after lenders rejected a plea for emergency funds.

The shutdown has deepened the crisis as dues to lessors, staff and suppliers pile up and lenders scramble to find a buyer for what was once India’s largest private airline.

Jet Airways CEO Vinay Dube told employees on Wednesday that the sale would take time and could throw up more challenges, but he was confident the airline would fly again.

Failure would threaten more than 16,000 staff jobs and thousands more tied to the airline, which at its peak operated over 120 planes and more than 600 daily flights.

More than a dozen employees told Reuters they had gone two to four months without pay. Many grapple with unpaid bills, overdue home loans, school and tuition fees.

“We have stopped going out for movies, to restaurants or any other form of entertainment,” said a Jet engineer, who is self-tutoring his children after cancelling private tuitions.

He is listed as a defaulter in his community for failing to meet his building maintenance fee payments. “It’s a huge stigma for my family,” he said, declining to be named.

‘SAVE OUR FAMILY’

Hundreds of angry employees have protested in New Delhi and Mumbai, accusing management of leaving staff in the dark about the airline’s worsening crisis.

“Management never gives us a clear picture,” airline union leader Chaitanya Mainkar shouted during a protest at Mumbai’s international airport on Friday where employees chanted slogans and waved posters that read “Save Jet Airways, Save Our Family.”

Jet pilots appealed for intervention from Prime Minister Narendra Modi, who is facing wider criticism over the scarcity of jobs as he campaigns for re-election in polls now underway.

Last month, Modi asked state-run banks to rescue Jet Airways without pushing it into bankruptcy, averting thousands of job losses. But the airline never received the agreed stop-gap loan of about $217 million.

“At least now we know the talks about caring for employment, creating jobs is all an eyewash,” Captain Asim Valiani, vice president of the National Aviator’s Guild representing Jet pilots, told Reuters after the shutdown.

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy